Stifel Nicolaus Forecasts Strong Price Appreciation for Serica Energy (LON:SQZ) Stock

Serica Energy (LON:SQZ) had its target price raised by investment analysts at Stifel Nicolaus from GBX 266 to GBX 281 in a report issued on Tuesday,London Stock Exchange reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential downside of 4.10% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Serica Energy from GBX 230 to GBX 310 and gave the company a “buy” rating in a research report on Monday. Berenberg Bank reissued a “buy” rating and issued a GBX 300 price objective on shares of Serica Energy in a report on Thursday, March 26th. Panmure Gordon lowered their target price on Serica Energy from GBX 270 to GBX 238 and set a “buy” rating on the stock in a research note on Tuesday, December 2nd. Finally, Shore Capital Group restated a “buy” rating on shares of Serica Energy in a research note on Thursday, March 26th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 252.

Serica Energy Stock Performance

Shares of SQZ stock traded up GBX 1 during trading hours on Tuesday, hitting GBX 293. The company’s stock had a trading volume of 4,294,433 shares, compared to its average volume of 3,968,265. The company has a 50 day moving average of GBX 236.98 and a 200 day moving average of GBX 204.29. The stock has a market cap of £1.14 billion, a PE ratio of -36.63, a price-to-earnings-growth ratio of 2.15 and a beta of 0.78. The company has a current ratio of 1.14, a quick ratio of 1.22 and a debt-to-equity ratio of 33.93. Serica Energy has a 12-month low of GBX 112 and a 12-month high of GBX 296.50.

About Serica Energy

Serica Energy plc, an upstream oil and gas company, identifies, acquires, explores, exploits, and produces oil and gas reserves in the United Kingdom. The company holds 100% interest in the Keith oil field; 98% interest in the Bruce field; and 50% interest in the Rhum gas field located in the Northern North Sea, as well as 18% non-operating interest in the Erskine field located in Central North Sea. It also has 50% interest in the Columbus development; and 20% interest in the Skerryvore and Ruvaal prospects located in Central North Sea, as well as 100% interest in the North and South Eigg exploration prospects located in the Northern North Sea.